It is a major boon for BlockGrain, which now has links to a platform that boasts more than 10,000 growers and 300 buyers on its register and has, since inception, traded 5.7 million tonnes of grain.

BlockGrain chief executive Caile Ditterich said the partnership with CGX, which is part-owned by Elders, opened the way for farmers storing grain on-farm to get access to a network of buyers in Australia.

Mr Ditterich said farmers would now be able to achieve true value for their commodities.

“BlockGrain’s on-farm storage application is the first of its kind and establishes data integrity for grain stored on-farm,” he said.

“CGX has a track record of returning value to farmers by operating an open and independent exchange where all buyers can purchase grain direct from farmers.

“This sits well with our ethos, which is to return as much value to farmers as we can.”

BlockGrain, a relatively new software solution first designed for the grains industry, allows farmers to track their commodities from paddock to plate.

It uses blockchain technology to record movements of each step of the journey to market and beyond, from harvest, to on-farm storage and to the end consumer.

BlockGrain has extended its reach into fruits and vegetables and is aiming to develop a platform for the livestock market.

It also recently partnered with US firm Mountain State Brewing Company to set up a month-long pilot project tracking the story behind the brewery’s beer.

CGX managing director Nathan Cattle said BlockGrain was a “missing piece” for the online grain-trading platform.

“Integrity around grain data is important for participants to have confidence in what they are buying and selling on an electronic exchange,” he said.

“BlockGrain is a young and dynamic business looking to solve the gap of accurate information for grain stored on farm, which is something we are motivated to support.

“Many of our customers have been asking for CGX to trade grain stored on-farm and BlockGrain provides a missing piece to help make this happen.”